Clearwater Paper Reports Second Quarter 2022 Results
For the first six months of 2022, Clearwater Paper reported net sales of $1 billion, a 22% increase compared to net sales of $832 million for the first six months of 2021. Net income for the first six months of 2022 was $31 million, or $1.83 per diluted share, compared to net loss for the first six months of 2021 of $40 million, or $2.37 per diluted share. On a non-GAAP basis, Clearwater Paper reported adjusted net income in the first six months of 2022 of $36 million, or $2.13 per diluted share, compared to first six months of 2021 adjusted net loss of $6 million, or $0.37 per diluted share. Adjusted EBITDA for the first six months was $122 million, compared to the first six months of 2021 Adjusted EBITDA of $69 million. Net sales in the Pulp and Paperboard Products segment were $562 million for the first six months of 2022, up 26% compared to net sales of $447 million in the first six months of 2021. Segment operating income for the first six months of 2022 was $102 million, compared to $38 million for the first six months of 2021.